Infosys appoints Ranganath D Mavinakere as new CFO

India’s second largest software services firm, Infosys has appointed Ranganath D Mavinakere as new Chief Financial Officer (CFO).

He will succeed Rajiv Bansal who was Executive Vice President (EVP) and the CFO of Infosys and had resigned from the company.

Prior to this appointment, Mavinakere was EVP and head of strategic operations and CEO’s office of Infosys.

He has rich experience of about 18 years across banking and IT services industries. In his 15-year career with Infosys, he has held several leadership positions in the company.

​Mavinakere worked with ICICI Limited from 1991 to 1999 where he was senior Vice President of Treasury and Planning.

He holds a post graduate diploma in management (PGDM) degree from the Indian Institute of Management, Ahmedabad and M Tech degree in mechanical engineering from the Indian Institute of Technology (IIT), Madras.


PM lays foundation stone of 4th terminal of Jawaharlal Nehru Port Trust in Mumbai

Prime Minister Narendra Modi has laid the foundation stone of fourth terminal of country’s largest container port – Jawaharlal Nehru Port Trust (JNPT) in Mumbai.

The ambitious project will augment JNPT’s present capacity situated off the financial capital’s eastern seafront by doubling it in next two years.

Key facts

  • The fourth terminal project will be carried out in two phases at estimated cost of 7,900 crore rupees and will be complete by the end of 2017.
  • The project involves construction of two berths of 1 km in each of the two phases.
  • It will be executed by Bharat Mumbai Container Terminal (BMCT), a subsidiary of Port of Singapore on a design, fund, built, operate and transfer (BOT) basis.
  • The terminal will play important role in India’s Export-Import (exim) trade by doubling existing 4.5 million container handling capacity of JNPT to 10 million standard units.

The expansion of port seeks to make it in top 15 ports of the world as it is presently ranked 31st.

At present, JNPT operates one of the three terminals at the port while the other two are operated by DP World and APM Terminals.


High-risk area boundary of maritime piracy shifted from India’s western coastline

High-risk area (HRA) boundary of maritime Piracy has been shifted from 78 degrees East to the 65 degrees East longitude off India’s western coastline.

Decision in this regard was taken by European Union Chair of the Contact Group of Piracy off the Coast of Somalia (CGPCS) and will come into effect from December 1, 2015.


  • The HRA boundary was shifted from 65o E to 78o E longitude after surge in number of piracy cases from 2008 to 2013 off the east coast of Somalia in the Gulf of Aden i.e. near Horn of Africa (East Africa).
  • This decision was considered as an unwarranted encroachment into India’s Exclusive Economic Zone (EEZ).
  • However, there was significant drop in the sea piracy cases since 2012 and it was all time low in 2014 due to collective efforts of Indian and International defence forces.
  • Since 2013, Indian shipping regulators and defence forces were lobbying to redraw the eastern limit of the HRA as it was threat to its maritime security.


  • Economic: Reduce in insurance premium paid by shipping companies for security purpose against piracy.
  • Consequently huge savings for India’s EXIM (export-import) trade and Indian consumers on account of reduced freight cost due to less insurance premium.
  • Maritime Security: It will be not jeopardized as there will be shift of International maritime traffic density along the western Indian coastline which earlier had led to maritime congestion.
  • Earlier, the presences of unregulated foreign owned floating armouries on shipping vessels near India’s coastline were potential threat to Indian maritime security interests.
  • It will also stop clashes between Indian fishermen and security guards of big vessels. Earlier there have been cases of firing by such security guards on Indian fishing boats and some India fishermen have lost their lives.